Financial statement guidance

This area of Navigate UK GAAP Accounting contains detailed guidance on each area of the financial statements, based on the requirements and Section numbering of FRS 102.

Examples and insights are included throughout in grey tinted boxes as well as specific links to relevant paragraphs of the standard. Mind maps are provided to give a visual overview of the guidance, with links to particular topics.

Each section contains:

  • a quick overview of the requirements and highlighting any differences to FRS 105 and IFRS;
  • scope and key definitions;
  • detailed recognition and measurement considerations;
  • presentation and disclosure requirements;
  • exploration of current issues, including Covid-19 implications; and
  • links to further useful resources such as disclosure checklists and training modules in Navigate eCPD.

Guidance on FRS 103 Insurance contracts is also available at the end of this section.